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CAN THE UK ACHIEVE NET ZERO GREENHOUSE GAS EMISSIONS BY 2050?

Published online by Cambridge University Press:  22 May 2024

Jennifer L. Castle
Affiliation:
Magdalen College and Climate Econometrics, University of Oxford, Oxford, UK
David F. Hendry*
Affiliation:
Nuffield College and Climate Econometrics, University of Oxford, Oxford, UK
*
Corresponding author: David F. Hendry; Email: david.hendry@nuffield.ox.ac.uk
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Abstract

Net zero greenhouse gas emissions by 2050, the UK’s current target, requires bridging a dramatic energy transition and eliminating all other net sources of emissions while ensuring a just transition. Key components like renewable electricity generation and electric vehicles are well developed, but many issues remain. Public support for a green economy may wane if the economic costs are too high or seen as unfair. Therefore, although renewable energy is cheaper than fossil fuels, it is essential to maintain employment, real per capita growth and reduced inequality. Decarbonizing the UK economy requires an integrated sequential approach and need not be delayed while dealing with the aftermath of the COVID-19 pandemic, energy crisis and resulting inflation.

Information

Type
Research Article
Creative Commons
Creative Common License - CCCreative Common License - BY
This is an Open Access article, distributed under the terms of the Creative Commons Attribution licence (http://creativecommons.org/licenses/by/4.0), which permits unrestricted re-use, distribution and reproduction, provided the original article is properly cited.
Copyright
© The Author(s), 2024. Published by Cambridge University Press on behalf of National Institute Economic Review
Figure 0

Figure 1. UK total energy use, calculated as the sum of coal, oil, natural gas, nuclear and other non-GHG, all in Mtoe.

Figure 1

Figure 2. (a) UK $ {\mathrm{CO}}_2 $ territorial emissions per capita in tons per annum (p.a.) 1860–2018; (b) US $ {\mathrm{CO}}_2 $ emissions per capita, in tons p.a., 1850–2019; (c) UK total GHG emissions in Mt since 1990, all in weighted $ {\mathrm{CO}}_2 $Eq and (d) UK ratio of $ {\mathrm{CO}}_2 $ emissions to the capital stock on a log scale to 2017.

Figure 2

Figure 3. (a) UK $ {\mathrm{CO}}_2 $ emissions and CCA08 $ {\mathrm{CO}}_2 $ targets annualized (MT); (b) UK electricity generation (CCGT: Combined Cycle Gas Turbine) in TWh; (c) OfGem regulated prices of electricity and gas, 2015 = 100 and (d) spot crude oil price (WTI) $ per barrel.